On October 26th, 2015, PJSC Ukrnafta's Board Chairman Mark Rollins gave a press conference, where he clarified the company's position on the accumulated tax liabilities and answered questions of the journalists.
The Chairman of the Board emphasized that historically Ukrnafta had been one of the major taxpayers in the country. However, just like all other resource companies in the world, it is being heavily impacted by the recent decrease of oil prices. «Given the current low oil price, there is only enough finance to cover salaries, and our current tax liabilities. I have committed to the Finance Ministry that we will continue to pay our current taxes, which amount approximately to 1 bln hryvnya a month, which in its turn means that the past debt will not grow. However we do not generate enough cash at the moment to invest in the future of the business or to pay our past liabilities», said Mark Rollins. In order to find solution to the situation the Head of Ukrnafta has held a meeting with Minister of Finance Natalia Jaresko. «By mid November I’m planning to present my proposal to the government. It will be a robust and sustainable plan that will work under any circumstances», announced Mr Rollins.
Another possible solution of the tax situation can be found in resolving gas liabilities of NAK Naftogaz to Ukrnafta. As it is well know, Ukrnafta had transferred to NAK Naftogaz 10.1 bln m3 of natural gas, that still hasn't been paid for. If the gas debt gets paid off, Ukrnafta will be able to pay the accumulated tax liabilities. «This will also be covered in the business strategy I'm working on. It’s my intention to make the company an absolute champion of Ukraine, a strong company that is a great contributor to the state, and create value for all the shareholders», concluded Mark Rollins.
Press-service PJSC Ukrnafta
